(a) Each credit union subject to supervision and examination by the Administrator
of Credit Unions, including credit unions in process of voluntary liquidation, shall
pay into the office of the Administrator of Credit Unions twice each year, in the
months of January and July, supervision fees, except those credit unions which liquidate
or convert its charter shall pay into the office of the Administrator of Credit Unions,
to the date of dissolution, pro rata supervision fees. Examination fees shall be paid promptly upon receipt of the examination report and
The Administrator of Credit Unions, subject to the advice and consent of the Credit
Union Commission, shall, on or before December 1 of each year, determine and fix the
scale of supervisory and examination fees to be assessed during the next calendar
No credit union shall be required to pay any supervisory fee until the expiration
of 12 months from the date of the issuance of a certificate of incorporation to such
(b) Moneys collected under this section shall be deposited with the State Treasurer
of North Carolina and expended, under the terms of the Executive Budget Act, to defray
expenses incurred by the office of the Administrator of Credit Unions in carrying
out its supervisory and auditing functions.
(c) All revenue derived from fees will be placed into a special account to be administered
solely for the operation of the Credit Union Division.
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